Innovation can be risky, especially when the stakes are high. So it’s not surprising that businesses, especially those in risk-averse industries, such as finance and law, are often slow to digitise tasks that have traditionally been completed by humans. Finance and law are heavily regulated, adding an additional hurdle.
Resistance to innovation doesn’t only apply to risk-averse industries. Small and medium enterprises (SMEs), don’t often have the time nor the capital to invest in something that may, or may not work.
Will adopting new technology be worth the cost?
Change can carry high stakes. It is often difficult to find solutions that actually live up to their claims, a reality that is sometimes not apparent until a technology has been implemented, sometimes at significant cost. Add issues of compatibility, client privacy and inability to calculate return-on-investment (ROI) for cutting edge solutions and it’s no wonder that SMEs are weary of new technology.
The pressure to stay competitive can override resistance to change. For example, standardising processes and procedures is one way to streamline service and increase efficiency. This solution may streamline processes but it still requires a high level of staff time, the most expensive asset of any business.
It’s generally accepted that service-oriented businesses need to innovate to stay competitive, but how do you do this within a risk-averse landscape?
Reduce the risk of innovation by taking incremental steps
Digital transformation is hailed as the savior of industry, integrating cutting edge, frequently changing technology, such as artificial intelligence (AI) into a new world of business practices. This often comes with a high price tag and high risk of disruption.
What if you don’t need transformation? What if your challenges could be addressed with a few incremental steps that don’t disrupt your business but make a big difference? Technology that allows you to make small changes is vital to this journey.
What can be automated?
The first step of any change, large or small, is to evaluate what part of your processes can be automated. Even the most personalised service will have repetitive elements or elements in common with other services you provide. That’s a prime spot for automation.
When you find this sweet spot, test it. Your test may run smoothly, it may run into a few hurdles or it may reveal something else you need to. This is part of innovation and a good argument for starting small.
When your test automation works, repeat it in the same place and find other processes this automation will work in. Replicating these simple business operations automations, or using them as a base for more complex action is a quick and easy way to integrate automation into nearly every business process. It's a low-risk way to achieve quick wins that can improve productivity and customer service, boosting staff motivation as well as the appeal of the company to prospective customers and employees alike.
No code cloud-based service delivers big change with little disruption
At AUTTO, we have built the technology to make it quick and easy to automate repetitive tasks. Our no-code visual editor makes it easy to create small changes that have a big impact with drag and drop workflows.
We remove the cost of technology development with our cloud-based service so you can focus on providing personalised service while routine tasks are taken care of. Automate as little, or as much as you feel comfortable with while enjoying the benefits of transformation with little of the cost and risk.